According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the picture of Vietnam's pangasius exports in the first quarter of this year and the following quarters is forecasted to be optimistic.
In the first quarter of this year, pangasius exports saw many new things. After facing difficulties due to China's Zero Covid policy, with many pangasius shipments worrying about being returned if they were infected with coronavirus, the export value of pangasius to China - Hong Kong has now increased again.
It is forecasted that pangasius exports will be even more optimistic in the next quarter at the least. By the end of March 2022, the total pangasius export turnover to this market reached US$183.4 million, an increase of more than 163 percent compared to the same period last year. In March alone, the pangasius exports to China - Hong Kong hit $97.5 million, up 119 percent.
Pangasius exports to the US market also grew well. After the final results of the 17th period of review (POR17) were announced, pangasius enterprises that are not subject to US anti-dumping tariffs have been promoting exports to this market.
By the end of March 2022, the total pangasius export value to the US exceeded $160 million, up 123 percent. Currently, record inflation is taking place in the US due to disrupted supply chains and the impact of the Ukraine crisis. Prices spiral, and the demand for necessities, including food and seafood, increases sharply. Therefore, it is a good opportunity for enterprises to export frozen pangasius to this market.
Not only in the US, but the food crisis is also taking place in Europe. Prices have skyrocketed because supply chains have been congested for a long time, and the demand has exploded. The global energy market has been severely affected due to the Russia-Ukraine war, making the global food market hotter.
For the first time after many years of decline, pangasius exports to the EU increased by 86.2 percent compared to the first quarter of 2021, with an export turnover of $46.7 million. Pangasius export value to major markets in the EU saw sharp increases, such as the Netherlands with 86 percent, Germany with 97 percent, Belgium with 120 percent, and Spain with 67 percent.
It is forecasted that in the second quarter of 2022, pangasius exports to major markets will keep a good positive growth. Consumption demand will surge and be stable because pangasius price is competitive and can fill the gap in some segments with white-fleshed fish products, such as cod and Pollock, in short supply from Russia.
Due to the good and promising export market, the stocks of some Vietnamese pangasius exporters have been green recently.
In the first quarter of this year, pangasius exports saw many new things. After facing difficulties due to China's Zero Covid policy, with many pangasius shipments worrying about being returned if they were infected with coronavirus, the export value of pangasius to China - Hong Kong has now increased again.
It is forecasted that pangasius exports will be even more optimistic in the next quarter at the least. By the end of March 2022, the total pangasius export turnover to this market reached US$183.4 million, an increase of more than 163 percent compared to the same period last year. In March alone, the pangasius exports to China - Hong Kong hit $97.5 million, up 119 percent.
Pangasius exports to the US market also grew well. After the final results of the 17th period of review (POR17) were announced, pangasius enterprises that are not subject to US anti-dumping tariffs have been promoting exports to this market.
By the end of March 2022, the total pangasius export value to the US exceeded $160 million, up 123 percent. Currently, record inflation is taking place in the US due to disrupted supply chains and the impact of the Ukraine crisis. Prices spiral, and the demand for necessities, including food and seafood, increases sharply. Therefore, it is a good opportunity for enterprises to export frozen pangasius to this market.
Not only in the US, but the food crisis is also taking place in Europe. Prices have skyrocketed because supply chains have been congested for a long time, and the demand has exploded. The global energy market has been severely affected due to the Russia-Ukraine war, making the global food market hotter.
For the first time after many years of decline, pangasius exports to the EU increased by 86.2 percent compared to the first quarter of 2021, with an export turnover of $46.7 million. Pangasius export value to major markets in the EU saw sharp increases, such as the Netherlands with 86 percent, Germany with 97 percent, Belgium with 120 percent, and Spain with 67 percent.
It is forecasted that in the second quarter of 2022, pangasius exports to major markets will keep a good positive growth. Consumption demand will surge and be stable because pangasius price is competitive and can fill the gap in some segments with white-fleshed fish products, such as cod and Pollock, in short supply from Russia.
Due to the good and promising export market, the stocks of some Vietnamese pangasius exporters have been green recently.
